August 19, 2008 - 3:47PMThe receiver of Commander Communications...

August 19, 2008 - 3:47PM


The receiver of Commander Communications Group Ltd has sought expressions of interest for the telco and its assets.

McGrathNicol said parties had until August 26 to indicate their interest in two related but separate divisions.

Managed and Professional Services provides telecommunications and information technology management services, which the receiver said had a "long-standing government and blue chip customer base".

The second division is Telecommunications, which is an integrated infrastructure and related-services provider for small to medium-sized businesses.

The receiver said the unit was supported by a national sales force and franchise network.

Commander went into receivership on August 7 but remains trading on a business-as-usual basis.

"Interest in advance of advertising has been very robust for both businesses," McGrathNicol said.

"The work necessary to restructure these businesses, to enable them to generate strong cash flows, was largely completed by management and we expect to consummate sales of the respective businesses over the next 10 to 12 weeks."

Commander was a high-flying stock until early 2007 when the company's lenders decided not to rollover debt.

Ferrier Hodgson was subsequently appointed voluntary administrator.

The stock last traded at 8.2 cents a share, with creditors first in line for funds reaped from the sale.